This excerpt taken from the PBR 6-K filed May 15, 2009.
Clarifications on Pre-Salt Blocks
Rio de Janeiro, May 14 2009 PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, with regard to news published by the press concerning a decision taken by the Brazilian Petroleum Agency (ANP) that allegedly rejected an exploration term extension request made by Petrobras, clarifies that the company has not received any official information on such ANP decision yet. The Agency Board Resolution is still being drafted and will only be homologated in the upcoming meeting, which is scheduled to take place next week.
The ANP Exploration Superintendence had already approved the Appraisal Plans (PA) Petrobras proposed for blocks BM-S-8, BM-S-9, BM-S-10, BM-S-11, and BM-S-21. The companys Strategic Plan took in consideration this above-mentioned decision only.
Also, the companys Strategic Plan considered the completion of all commitments Petrobras took on with the ANP within terms already defined.
Finally, we clarify that considering the approvals that have already granted and the facts known thus far, Petrobras believes there is no risk of having to return the concession areas, that it will fulfill the obligations it took on, and that there will be no impact on its Strategic Plan.
This document may contain forecasts that merely reflect the expectations of the Companys management. Such terms as anticipate, believe, expect, forecast, intend, plan, project, seek, should, along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: May 14, 2009
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.